The Academic Staff Union of Universities (ASUU) has agreed to suspend its eight-month strike.
The union reached the agreement on Friday night during a meeting with the federal government team led minister of labour and employment, Chris Ngige.
According to reports, ASUU also stated that the agreement should not be announced until it has been approved by its members.
It is understood that the union will have to report to its organs about the agreement before it can communicate their decision to the government after which a date would be announced for calling off the strike.
The federal government also agreed to raise the total money offered to ASUU to N70 billion.
The union had embarked on an indefinite strike in March over non-implementation of agreements and resolutions the federal government reached with it in 2009.
It had also opposed the adoption of the Integrated Payroll and Personnel Information System (IPPIS) while presenting its own University Transparency and Accountability Solution (UTAS) as an alternative.
The union has had several meetings with the federal government since the strike commenced but no agreement was reached.
The federal government, however, bowed to pressure last week as it offered the sum of N65 billion to ASUU so it can call off its industrial action which has grounded academic activities in the public universities.